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Assume that you are the owner/operator of College Park Veterinary Clinic. At the end of the second year of operations (June 30, 2017). the
Assume that you are the owner/operator of College Park Veterinary Clinic. At the end of the second year of operations (June 30, 2017). the following financial data for the company are available: Cash Accounts Receivable: Supplies Property and Equipment Other Assets Accounts Payable Notes Payable $ 6,000 116,200 36,000 231,500 14,600 51,700 150,000 Other Liabilities 26,000 Sales Revenue 250,000 Operating Expenses 193,400 Selling and Administrative Expenses 46,000 Advertising and Marketing Expenses 23,000 Interest Expense 5,500 Retained Earnings, July 1, 2016 Contributed Capital Dividends 50,000 167,000 22,500 Required: 1. Prepare an income statement for the year ended June 30, 2017. (Negative amounts should be indicated by a minus sign.) COLLEGE PARK VETERINARY CLINIC Income Statement For the Year Ended June 30, 2017 Expenses
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